Casino Resort investor Landing International Development says Yang has returned to work after more than three months of contact. Yang, pictured, “resumed his duties as board chairman and executive director on Nov. 26, 2018,” the company said in a filing on Monday.
The Hong Kong-listed company said in an August statement that it had been “out of touch” with Yang since August 23.
In its August filing, the company gave no basis for the claim that Yang’s absence would be temporary.
At the time of his disappearance, industry sources told the GGRA that Yang was last reportedly seen in Cambodia in late August. Shortly after that, a person who looked like Yang was seen being escorted in handcuffs on the tarmac at the airport.
Landing International said in a filing on Monday that Yang had explained to the board that he had “applied to the relevant departments of the People’s Republic of China to investigate during his absence.”
“The Board would like to inform shareholders and investors that the Group’s business and operations have been stable and normal at this time and during that time, while Yang is away temporarily,” the company added.
Yang owns 50.48% of Landing International’s total outstanding share capital through a wholly owned company, according to the latest records from the Hong Kong Exchange.
Shares of Landing International, which currently operates a casino resort complex on Jeju Island, closed Monday at HK$2.73 ($0.349), up nearly 8.8% for the day but down 52.8% from Aug. 23.
The company asked for a stock suspension on the morning of Aug. 23 after losing 35% of its value in the first 90 minutes of daily trading.
The company has lost nearly 53% of its value since August 23 and now has a market cap of about HK$8.01 billion.
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